DIGITAL TRANSFORMATION POTENTIAL: THE ROLE OF ARTIFICIAL INTELLIGENCE IN BUSINESS

DIGITAL TRANSFORMATION POTENTIAL: THE ROLE OF ARTIFICIAL INTELLIGENCE IN BUSINESS

March, 11th 2024 | David Oyekunle, David Boohene
The article "Digital Transformation Potential: The Role of Artificial Intelligence in Business" by David Oyekunle and David Boohene explores the integration of Artificial Intelligence (AI) into business operations, highlighting its significance as a driver of innovation and efficiency. The research methodology includes semi-structured interviews with key stakeholders, AI project managers, and digital transformation staff, as well as case studies of six global businesses based on their AI adoption maturity and digital transformation performance. A qualitative content analysis of literature on AI and digital transformation is also conducted. The study reveals that a balanced approach considering workforce implications is crucial for realizing the full potential of AI. The adoption of AI in business is a nuanced process influenced by various factors, including organizational leadership, culture, resource availability, perceived benefits, regulatory considerations, data security, technology evaluation, and workforce readiness. A holistic understanding of these factors enables organizations to navigate the complex space of AI adoption, unlocking its transformative potential. The research findings have practical implications for businesses, emphasizing the need for AI managers to promote innovation and adaptability. AI implementation requires human and technological capital, and legal and data security measures must be followed to reduce risks. Comprehensive training and development programs are essential to prepare employees for an AI-enabled workplace. By addressing these five pragmatic elements, businesses can overcome challenges and capitalize on the disruptive potential of AI. The study contributes to the literature by offering insights into the nuanced landscape of AI adoption in businesses, highlighting the crucial role of workforce considerations. It provides a comprehensive understanding of the multifaceted factors shaping AI implementation, making it a valuable resource for organizations navigating the complexities of AI adoption, fostering innovation and efficiency while prioritizing workforce integration.The article "Digital Transformation Potential: The Role of Artificial Intelligence in Business" by David Oyekunle and David Boohene explores the integration of Artificial Intelligence (AI) into business operations, highlighting its significance as a driver of innovation and efficiency. The research methodology includes semi-structured interviews with key stakeholders, AI project managers, and digital transformation staff, as well as case studies of six global businesses based on their AI adoption maturity and digital transformation performance. A qualitative content analysis of literature on AI and digital transformation is also conducted. The study reveals that a balanced approach considering workforce implications is crucial for realizing the full potential of AI. The adoption of AI in business is a nuanced process influenced by various factors, including organizational leadership, culture, resource availability, perceived benefits, regulatory considerations, data security, technology evaluation, and workforce readiness. A holistic understanding of these factors enables organizations to navigate the complex space of AI adoption, unlocking its transformative potential. The research findings have practical implications for businesses, emphasizing the need for AI managers to promote innovation and adaptability. AI implementation requires human and technological capital, and legal and data security measures must be followed to reduce risks. Comprehensive training and development programs are essential to prepare employees for an AI-enabled workplace. By addressing these five pragmatic elements, businesses can overcome challenges and capitalize on the disruptive potential of AI. The study contributes to the literature by offering insights into the nuanced landscape of AI adoption in businesses, highlighting the crucial role of workforce considerations. It provides a comprehensive understanding of the multifaceted factors shaping AI implementation, making it a valuable resource for organizations navigating the complexities of AI adoption, fostering innovation and efficiency while prioritizing workforce integration.
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